What happened?

Ethereum co-founder Vitalik Buterin proposed switching the Ethereum network’s execution layer from the EVM contract language to the RISC-V instruction set. This change aims to improve scalability, data availability, and zero-knowledge proof processing. The proposal seeks to make Ethereum more competitive against newer, faster blockchains like Solana.

Who does this affect?

This change affects Ethereum developers and users who rely on the network for building decentralized applications and conducting transactions. Developers may need to adapt their smart contracts to the new system, while users could experience faster and cheaper transactions. The broader Ethereum community, including investors, will also be impacted as the network’s performance and appeal evolve.

Why does this matter?

Adopting RISC-V could strengthen Ethereum’s position in the cryptocurrency market by enhancing its processing capabilities and reducing transaction costs. This move comes as Ethereum faces competition from newer blockchains that offer high throughput and low fees. Improved execution speed and reduced fees could attract more developers and users, potentially increasing Ethereum’s value and adoption.